Québec, May 28, 2024. – In February 2024, Québec’s real gross domestic product (GDP) at basic prices was up 0.2% from the previous month, following a 2.0% increase in January 2024. This was revealed in Produit intérieur brut par industrie au Québec, février 2024 released today by the Institut de la statistique du Québec.
Goods output declined by 0.2%
The output of goods industries was down 0.2% in February after growing 0.9% in January. The decrease in February was due to construction (-1.0%) and manufacturing (-0.4%). On the other hand, the mining, quarrying, and oil and gas extraction sector posted a significant increase of 6.7%.
Service production up 0.4%
In February, output in the service industries was up 0.4% after a 2.3% increase in January. The growth in February was mainly due to wholesale trade (+1.4%) and transportation and warehousing (+1.6%).
Cumulative total for the first two months of 2024: Québec’s real GDP up 0.2%
For the first two months of 2024, Québec’s real GDP was 0.2% higher than in the same months of 2023. The sectors that contributed the most to this increase are real estate and rental and leasing (+1.9%), public administration (+2.3%), transportation and warehousing (+3.3%), and wholesale trade (+2.1%).
Canada’s real GDP at basic prices up 0.2% in February 2024
According to data published by Statistics Canada on April 30, 2024, Canada’s real GDP at basic prices was up 0.2% in February after a 0.5% increase in January. The output of goods industries remained relatively stable, while that of service industries rose by 0.2%.
Real gross domestic product by industry1
(percentage change)
| 2023 | 2024 | |||||
| Annual change | Monthly change | Cumulative change2 | ||||
| January | February | |||||
| Québec | 0.2 | 2.0 | 0.2 | 0.2 | ||
| Canada | 1.2 | 0.5 | 0.2 | 0.8 | ||
|
1. Gross domestic product levels by industry are valued at basic prices in chained dollars (2017), seasonally adjusted and annualized. Sources |
||||||
For 25 years, the Institut de la statistique du Québec has been producing, analyzing, and disseminating official, objective and high-quality statistical information on various aspects of Québec society. It is responsible for conducting all statistical surveys of general interest. The relevance of its work makes it a strategic ally for decision makers and an essential source of information for all those wishing to learn more about Québec.